Last month a new consultative service space was added to the Incubator Program. The RPIdeaLab, located in the J-Building, aims to provide both space and advice to students interested in starting or managing their own businesses.
Bella Musits, director of the Incubator Program, said that the idea for the RPIdeaLab came about after a number of students asked for a space to rent in the incubator. "However, as I talked to them, I realized that they were not yet at the stage where they were ready to rent a space," he added. Some of these students were already running a business from their dorm rooms and they needed more space. Other students had some business ideas but did not know how to start or where to find the space to start it.
The RPIdeaLab provides the space, resources, and advice that many of these students seek.
The room that houses the project has several networked computers, a conference area, reference materials such as The Wall Street Journal, and a wide collection of trade magazines and periodicals for student use. The room is available for student use 24 hours a day, seven days a week.
An expert is also available every Wednesday from noon to 2 pm to answer questions and give advice. Students can also make appointments if the walk-in time is not convenient for them.
Every month, five different service firms are there on Wednesday to answer business-related questions.
Musits said that many students find it very useful. "Everyday, at least one student uses this great resource," he added.
In addition, the RPIdeaLab sponsors monthly dinners for students who already have businesses. "The dinners are a good way to get the students to communicate with each other and share ideas," said Musits.
The RPIdeaLab was initiated mainly by Musits, Professor William Stitt, and Incubator Center Manager Simon Balint, and is largely funded through a $75,000 gift from the Rensselaer Alumni Association, MapInfo, and gifts from other individuals.
